Resilience, the San Francisco-based cyber managing general agent, has launched an operation in London to serve the UK market.
In a deal brokered by Lockton Re LLP, this expansion is backed by a capacity agreement with HDI Global Specialty SE, for Resilience to enter the UK market.
Leading Resilience’s expansion is Kyle Bryant, international chief underwriting officer. Prior to joining Resilience in 2021, Bryant was responsible for Chubb’s Overseas General Insurance, where he oversaw the strategy, development, and financial performance of the cyber and technology lines of business in international markets, based out of London.
To prepare for this market launch, Resilience has made multiple strategic hires throughout the second and third quarters of 2022, including newly appointed head of International Distribution and Strategy Jack Jenner (formerly of global financial institutions Allianz and Zurich), as well as other senior underwriting professionals with experience at Allianz Global Corporate & Specialty, Chubb, and Tokio Marine Kiln.
Providing key UK cybersecurity expertise and insights are UK Armed Forces veteran turned security professional Simon West and other industry professionals from cybersecurity companies.
Founded in 2016 by US military veterans and augmented by leaders and innovators from the insurance and technology industries, Resilience uses its proprietary platform and data from real-world incidents to driving continuous improvement in how a company’s risk transfer, cybersecurity visibility, and cyber hygiene plan work together to manage cyber risk holistically.
The more secure a client is, the broader the coverage and lower the premiums the client becomes eligible for, said Resilience, noting that this approach helps companies become cyber resilient and, in turn, helps Resilience keep incident rates low.
“The last couple of years made it clear: you can’t separate your cyber insurance from your cybersecurity if you want to manage your cyber risk correctly,” said Vishaal Hariprasad, CEO and co-founder of Resilience.
“We’ve instead got to break the silos across risk, cybersecurity, and financial experts at a company and look at cyber risk holistically. Our goal is cyber resilience: continuously improving companies’ risk profiles by connecting their coverage with their cybersecurity plan to reinforce great cyber hygiene,” he added.
Partnering with Hariprasad is insurance industry leader Mario Vitale, president of Resilience Cyber Insurance Solutions, who has a track record of building organizations worldwide, including in the UK. From leading Willis Towers Watson to Zurich Financial Services, Vitale brings more than 40 years of experience in various senior leadership positions across the insurance industry.
“To rewrite the rules of how companies manage their cyber risk, you need innovative thinking and a new approach to it,” commented Vitale. “That’s why we’re so excited by our recent UK leadership hires, who integrate the UK and European cyber underwriting expertise with deep cybersecurity experience. Every company’s cyber risks are both unique and local, as well as universal and global.”
“We’ve been impressed by Resilience’s client focus and the leadership and underwriting teams they’ve assembled,” added James Franklin, cyber lead for HDI Global Specialty SE, UK. “This offering represents a commendable example of where well-established socio-technical security and insurance-based risk management techniques can come together.”
Resilience is backed by technology investment firms including General Catalyst, Lightspeed Venture Partners, Intact Ventures, Founders Fund, CRV, and Shield Capital. In addition to its San Francisco headquarters, Resilience has offices in New York, Chicago, Baltimore, Toronto, and London. Resilience offers insurance coverage through its licensed and appointed insurance agency and security services through its expert security team.
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